SSRN Author: Phyllis Taite (formerly Smith)Phyllis Taite (formerly Smith) SSRN Contenthttp://www.ssrn.com/author=507981
http://www.ssrn.com/rss/en-usSun, 13 Dec 2015 01:28:25 GMTeditor@ssrn.com (Editor)Sun, 13 Dec 2015 01:28:25 GMTwebmaster@ssrn.com (WebMaster)SSRN RSS Generator 1.0New: Crummey Delivers Another Knockout Punch to the IRSIn this article, Taite discusses Mikel v. Commissioner, in which the Tax Court addressed whether the donors qualified for the annual exclusion for gifts made to a trust with an in terrorem provision and a mandatory arbitration clause. http://www.ssrn.com/abstract=2702453
http://www.ssrn.com/1452399.htmlSat, 12 Dec 2015 15:50:00 GMTNew: Exploding Wealth Inequalities: Does Tax Policy Promote Social Justice or Social Injustice?This essay discusses how tax policies work in concert to contribute to the wealth and income inequality that disadvantage the poor and middle class in favor of the wealthy. While there is current and past discourse on wealth and income inequality, and impact of the same, as well as discussions of multiple causes of wealth and income inequality, there is little discussion on how various tax policies work together as a common force to perpetuate income and economic inequality. This Essay briefly discussed how certain tax policies work in concert to systematically shift wealth to the wealthiest taxpayers. This social arrangement is counter to what many would perceive as social justice. Social justice requires that those who are of greater means and receive greater benefits of tax policy should be responsible for a greater weight of the tax burdens. This Essay furthered discussed proposed limitations that should be placed on certain tax subsidies and defined benefits and burdens that ... http://www.ssrn.com/abstract=2559397
http://www.ssrn.com/1370926.htmlWed, 04 Feb 2015 09:45:42 GMTNew: The Elusive Cap and Gown: The Impact of Tax Policy on Access to Higher Education for Low-Income Individuals and FamiliesAffordability is a critical component for accessing higher education because, regardless of academic achievement, if there is no way to pay for tuition and necessary expenses, the student will lack the opportunity to attend college. With the uneven distribution of wealth in America, a majority of American families cannot afford to pay for college expenses without some form of assistance. Without access to higher education, it is unlikely that low-income individuals will ever be liberated from poverty. This Article examines whether the education incentive provisions of the Taxpayer Relief Act of 1997 achieved its intended goal by analyzing educational policies that have historically operated as barriers to the pursuit of postsecondary education for low-income individuals and families, evaluating federally subsidized programs available to assist with expenses for postsecondary education, how the new education incentives interrelate with the federally subsidized programs, and analyzing ... http://www.ssrn.com/abstract=2148569
http://www.ssrn.com/1370917.htmlWed, 04 Feb 2015 08:53:35 GMTNew: A Nightmare in Elwood EstateEstate of Elwood is a case involving reciprocal revocable trusts in which the Tax Court held that the estate was required under section 2044 to include the value of assets in a trust created by the decedent's wife before her death. The decedent held a special power of appointment in the family trust to appoint to tax exempt charitable organization. The decedent also held discretionary power to distribute in the marital trust. The decedent, as personal representative, did not create the distinct separate trust as required in the trust instrument, and he made significant withdrawals without indicating the source for the withdrawals. The Tax Court was forced to allocate the withdrawn trust property between the two trusts which caused an otherwise nontaxable estate to become a taxable estate. http://www.ssrn.com/abstract=2557813
http://www.ssrn.com/1370839.htmlWed, 04 Feb 2015 05:25:05 GMT